GAO: “No Opinion”...

GAO: “No Opinion” on U.S. Financial Audit

There are 2 comments on the Free Republic story from Jan 20, 2013, titled GAO: “No Opinion” on U.S. Financial Audit. In it, Free Republic reports that:

The Government Accountability Office is required to audit financial statements for the U.S. government each year.

Join the discussion below, or Read more at Free Republic.

gossamer

Roseville, MI

#1 Jan 22, 2013
The national debt is comprised of debt held by the public and intragovernmental holdings. Intragovernmental holdings are debts the federal government owes to itself, a phenomenon only possible within the realm of the criminally insane. For example, as of the end of FY 2012, the Treasury has borrowed a total of $2.7 trillion from the Social Security Administration (its entire Trust Fund), and more recently from federal employee pension funds in order to meet its unmanageable over-inflated obligations. The total debt outstanding has grown from $5.7 trillion at the end of fiscal year 2000 to $16.4 trillion as of January 17, 2013. Included within this figure, intragovernmental debt has grown from $2.3 trillion at the end of fiscal year 2000 to $4.9 trillion as of January 17, 2013 (see table below).
gossamer

Roseville, MI

#2 Jan 22, 2013
[img]http://2.bp.blogspot.com/ -Jqt6TFN4JT0/UPt3TM2N-MI/AAAAA AAAE9s/aZHBCYEzlVw/s1600/Debt+ to+the+Penny.JPG[/img]

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Personal Finance Discussions

Title Updated Last By Comments
News Guarding election integrity Sun Rev Cash Dollar 1
News Trivia game app Givling pays $25,000 towards TX... Sun ASimoneau 1
News Being aware of fraud is the first step to avoid... Aug 19 KING OF KINGS 7
News Bipolar Disorder and Social Security Disability... Aug 19 KING OF KINGS 20
News Sen. Graham: raise Social Security full retirem... (Feb '11) Aug 19 USA 14
News NYC to Change ID Rules for Transgendered (Nov '06) Aug 18 C Kersey 28
News Pataskala to get rid of chief (Dec '09) Aug 16 Idk1234455 21
More from around the web